Tidal is a major music streaming company that’s going through some changes. It’s been acquired by hip-hop star and business mogul Shawn ‘Jay Z’ Carter for $54 million dollars. And he’s not wasting any time.
A press conference is expected at 5 pm eastern time. There, Jay Z himself will discuss his plans and a new direction for Tidal. It’s already been rumored to snag new albums for A-list musicians like Madonna and Kanye West. And according to a Swedish based blog, Tidal wants to get the first release of a major artist before competing streaming companies. But all streaming services will have access to their songs…eventually. The new Tidal is getting support from many big names. Madonna, Kanye West, Beyonce, Rihanna and Calvin Harris have hashtags in their social media posts saying #tidalforall. Even Taylor Swift, whose had problems with Spotify, is on board with Jay Z’s Tidal. Some of her songs are expected to be featured. Just don’t expect any tracks from her 1989 album to appear. Musicians trust Jay-Z. His Roc Nation helps artists with management, production, and other business ends of the industry. He seems to be keeping that trust with Tidal. We hear artists will be getting paid twice as much as they would with other streaming services.
But what about the customers? The 35,000 Tidal subscribers have to pay $19.99 a month, compared to only $9.99 a month with Spotify. I hope Jay Z addresses this in this conference today…then announces he’s lowering the price. I’m not saying this to be a cheapskate. I think if the price were more competitive, more customers would jump to Tidal, subscribers would go up, and artists would be paid more too. Or if he’s going to keep the $19.99 a month price, give the consumer something really special. I mean something even more special than being the first to release a musician’s song. ?The trust factor between Shawn Carter and many musicians have already been established, so no wonder why many are flocking to Tidal. There’s some speculation that some celebrities will accompany Jay Z to today’s press conference. Who will they be?